Questions? Call: 213-282-5595

Disclosure: We receive compensation if you choose to speak to one of the recommended timeshare exit companies mentioned here. The following information is for educational purposes and is not to be considered professional or legal advice.

How to Get Rid of a Timeshare Without Ruining Credit

Facebook
Twitter
Email

Owning a timeshare might have once been a good idea, but over time it can become a financial burden if you aren’t using it. Getting rid of a timeshare without ruining your credit is a concern for many owners who have tried selling their timeshare unsuccessfully. Many owners attempt to sell their timeshare for as little as $1, and still can’t find any buyers. The resale market for timeshares is mostly non-existent unless you have a Disney Vacation Club or a high-end resort such as a Marriott or a Westin in Hawaii or Aruba.

So, if you’re unable to sell or give away your timeshare, what options do you have left?

Some owners believe they can donate their timeshare to charity, but this is almost always not possible or a scam. Think about it, if you don’t want the timeshare, and no one will take it off your hands for $1, why would a charity want it?

Some firms such as Donate For A Cause previously told owners they could donate their timeshare to them and write the donation off on their taxes, but Donate For A Cause was forced to stop this activity because the IRS values timeshares at $0. Donate For A Cause wasn’t taking the timeshares for free either. Owners were asked to pay Donate For A Cause an up-front fee for the privilege of donating the timeshare to them.

So, if selling is out and donation is not possible, what’s left?

You can try and talk to your resort and beg them to take the timeshare back, but not all resorts will work with you. If you have a mortgage left on the timeshare, the chances of the resort taking your unit back are slim to none.

If you can’t sell, can’t donate and can’t give the timeshare back, what are you supposed to do?

Consulting with a timeshare exit company is a logical next step in this situation. These companies work with lawyers that specialize in cancelling timeshares. This is not a cheap service, but you’ll be out of your timeshare and your maintenance fees will stop. Most of these companies have processes in place to protect your credit throughout the cancellation. Sometimes your credit will be affected depending on your situation, but the timeshare exit companies will usually have a process to repair your credit if that were to happen.

When choosing a timeshare exit company to cancel your timeshare, we only recommend working with those that offer a no up-front fee escrow payment option, so the timeshare exit company is only paid after your timeshare is cancelled. This is how you stay protected from scams. Many timeshare exit companies have a “100% money-back guarantee,” but this means nothing at all because the company could take your money up front and later not honor its money-back guarantee if it goes out of business. Learn more about escrow and why it’s important here.

Still wondering how to get rid of a timeshare without ruining credit? Initiate live chat on the right side of the page or submit a contact form for your free consultation.

FREE TIMESHARE EXIT CONSULTATION

By providing my contact information I am giving TimeshareExitCompanies.com and its partners permission to contact me about this and future offers using the information provided including calls and text messages to my wireless telephone numbers. I also consent to use of emails and the use of an automated dialing device and prerecorded messages. I understand that my permission described herein overrides my listing on any state or federal do not call list and any prior listing on the do not call lists of our partners and is optional. I acknowledge that this consent may only be revoked by email notification to info@timeshareexitcompanies.com.

See Your Timeshare Exit Cost Now!

By providing my contact information I am giving TimeshareExitCompanies.com and its partners permission to contact me about this and future offers using the information provided including calls and text messages to my wireless telephone numbers. I also consent to use of emails and the use of an automated dialing device and prerecorded messages. I understand that my permission described herein overrides my listing on any state or federal do not call list and any prior listing on the do not call lists of our partners and is optional. I acknowledge that this consent may only be revoked by email notification to info@timeshareexitcompanies.com.

OUR GOAL

Our goal is to help timeshare owners find a reputable timeshare exit company to work with. We like to recommend timeshare exit companies that offer a no up front fee escrow payment option, so you are protected from scams. Contact us to receive a free timeshare exit consultation.

TIP

Always contact your resort or timeshare developer first before contacting a timeshare exit company. Some have exit programs of their own that can assist you with a timeshare cancellation

Privacy Policy

TimeshareExitCompanies.com is not a law firm.